Question 1 of 12
How would you explain the practical difference between an admitted insurer and a nonadmitted insurer in New York, and when may a producer lawfully use the nonadmitted market?
Strong Interview Answer
An admitted insurer holds New York authority for the line and writes business under the admitted-market framework. A nonadmitted insurer lacks that New York certificate of authority; it may be used only through a lawful exception, most notably a properly licensed excess-line placement that satisfies insurer eligibility, diligent-effort or Export List, disclosure, affidavit, and filing requirements.
What to Listen For
- certificate of authority
- admitted versus nonadmitted is authorization status
- lawful excess-line procedure
- eligibility and disclosure/filing requirements
Caution
Do not equate nonadmitted with automatically illegal, and do not confuse authorization status with domestic/foreign/alien domicile.